Best Credit Cards for College Students

Best Credit Cards for College Students   college

With age, it becomes important to take on more responsibility and for parents who have college going children, the best way to make them responsible is to enable them to learn how to manage finances on their own. Not necessarily handing them cash, parents can get Rewards credit cards for Students so that they can start on the path to build up their financial future. Credit cards designed exclusively for students are a great way to start building up a good credit history. In the US, most students who are 18 or above has rewards credit cards for students which gives them financial independence as well as the opportunity to accumulate a good credit score by the time they cross the threshold of college. When stepping out in the real world, the credit score helps a lot.

As the name suggests, the Rewards Credit cards do come with rewards for the students. Good grades or not being a defaulter in paying bills earns students rewards which are appreciable. However, there are certain qualifications that the students must meet in order to obtain a Rewards Credit card. As per the guidelines mentioned in the Credit Card Act of 2009, students aged between 18-21 are eligible to own a credit card. There are however some clauses:

 

  • First, the student has to come forward with a proof of income. Often submitting a financial history for proving part-time or full time income is necessary.

 

  • Secondly, a co-sign is needed from a guardian, parent, spouse or any adult.

 

Getting a Rewards Credit Card for students is not difficult but the problem that lurks somewhere is the inability of the students to use it judiciously. In order to not misuse your credit card, there are some helpful tips like:

 

  • Making small purchases and avoid the unnecessary ones
  • Begin with a low limit credit card
  • Understand your spending capability
  • Pay off all balance at month end

 

There is no dearth of good Rewards Credit cards for students in the market and each credit card comes with lots of good promises; good enough to leave you confused. Following some expert opinion, there are a handful of best Rewards Credit Cards for Students in 2015. Following are worth considering:

 

Discover it® chrome for Students with $20 Cashback Bonus- The thumbs up for this reward credit card for students is that one gets to qualify with average credit. There is no annual fee to be paid, there are bonus cash back categories, no foreign transaction fee and 10.99% on balance transfers for a period of 6 months.

 

Journey® Student Rewards from Capital One® – Promising a 1% cash back on any purchase you make, this reward credit card also offers 25% bonus on your earned cash back (monthly) provided that you are never late in paying the bills. Cash back does not expire and can easily be redeemed as per your convenience. Students can access the credit scores for free. On the plus side, there is no annual fee to be paid as well.

 

Citi ThankYou® Preferred Card for College Students- With no annual fee, this rewards credit cards gives the opportunity to students to travel hassle free. The card is globally accepted with Chip Technology and the Thank You points can be easily redeemed on purchase of merchandise, gift cards, travel rewards and more.

 

Wells Fargo Cash Back College Visa® card- This one reward credit card for students helps students to earn cash back of nearly 3% on net purchase of groceries, gas and whatever one gets from the drugstore for the first 6 months after the sign up. After 6 months, you just earn 1%. A cash back of 1% is also available on other purchases.

 

Though these are some of the best Rewards Credit Cards for students worth considering, there are a few good ones that can be given a look at. These includes the East West Bank College Rewards, Bremer Bank College Rewards, Comerica College Rewards and Key Bank College Rewards.

 

Rewards Credit Cards for Students help students to start off on a great note in the real world. Hence, choose wisely.